Canadian company Loop Industries and waste management company Suez have chosen a site in Normany, France for their first European Infinite Loop Manufacturing Facility.
As part of a previously announced joint venture, the two companies have secured exclusive rights until June 2022 to purchase land at Port-Jérôme-sur-Seine for €1.3 million (£1.085 million).
The site is strategically located for waste plastic to be transported on the River Seine from the Paris region, and it is also able to service large companies based in the area.
Capital investment in the project is expected to be €250 million (£208 million) for a facility that will produce 70,000 tonnes of PET resin made from recycled content each year.
Companies including Danone, L’Oréal and L’Occitane will receive recycled content from the plant.
Support has also come from the French Government. Minister Delegate for Industry attached to the Minister of the Economy, Finance and the Recovery Agnès Pannier-Runacher said: “For the past five years, the Government has carried out a very ambitious program to enhance the attractiveness of France.
“These efforts have been rewarded in 2018, when France was designated, for the first time, the leading host country in Europe for industrial foreign investments, and in 2019, for the whole foreign investments. A rank which we have held since.
“The Infinite Loop project demonstrates investors’ confidence in our country’s strengths. I am delighted that this new facility will benefit the strong French ecosystem of packaging: this investment will contribute to the transition of our country towards a more sustainable, low-carbon economy. It is a milestone of the development of circular economy technologies.”
Construction of the facility is expected to begin in 2023 with completion 18 months later.
